(The boxes on the far right are percentage values)

Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product White Fragrant 20 Loonzain 32 % Total 100 % Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 379,200 113,760 265,440 00% $158,000 30 70% $ 31,600 100% $252,800 139,040 20% $113,760 100% $790,000 379,200 410,800 230,360 $ 180,440 100% 48 126,400 80 % 55 45 52 % Fixed expenses CM ratio $230,360 0.52 Dollar sales to break-eve- $443,000 As shown by these data, net operating income is budgeted at $180,440 for the month and the estimated break-even sales is $443,000 Assume that actual sales for the month total $790,000 as planned. Actual sales by product are: White, $252,800; Fragrant, $316,000; and Loonzain, $221,200 Required: 1. Prepare a contribution format income statement for the month based on the actual sales data 2. Compute the break-even point in dollar sales for the month based on your actual data